Norway seizes Russian ship to compensate Ukraine firm
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Oslo, Norway: Norwegian authorities have seized the Russian cruise ship Professor Molchanov in the Arctic to enforce a $4.2 billion compensation claim by Ukrainian state energy group Naftogaz.
The seizure in Norway's Svalbard archipelago was executed under a Norwegian court order enforcing a legal arbitration ruling.
The judgment ordered Russia to pay damages for illegally seizing Naftogaz assets following Moscow's 2014 annexation of the Crimea region.
Naftogaz acting chief executive Sergiy Fedorenko called the move another important step towards restoring justice. He vowed that the company will continue pursuing Russian assets worldwide until the awarded compensation is paid in full.
Svalbard police confirmed the court action, while vessel-tracking data showed Professor Molchanov anchored at the Barentsburg mining settlement.
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